§ 43-38-521. Proxy Voting Prohibited
Voting shall not be by proxy, except as provided in § 43-38-522(d).
§ 43-38-522. Number of Votes Allowed — Time for Voting — Method of Voting — Members Represented by Delegates — Absentee Ballots
A patron member of a cooperative is only entitled to one (1) vote on an issue to be voted upon by members holding patron membership interests, except that a patron member of a cooperative described in § 43-38-523 may be entitled to more than one (1) vote as provided in that section. On any matter […]
§ 43-38-523. Voting for Cooperative Constituted of Other Cooperatives or Associations — Cooperative Organized Into Units or Districts of Patron Members
A cooperative that is constituted entirely or partially of other cooperatives or associations may authorize by the articles or the bylaws for affiliated cooperative patron members to have an additional vote for: A stipulated amount of business transacted between the patron member cooperative and the central cooperative organization; A stipulated number of patron members in […]
§ 43-38-524. Written Member Control Agreements
A written agreement among persons who are then members, including a sole member, or who have signed subscription or contribution agreements, relating to the control of any phase of the business and affairs of the cooperative, its liquidation, dissolution and termination, or the relations among members or persons who have signed subscription or contribution agreements […]
§ 43-38-525. Representative of the Cooperative at Meetings of Cooperative Owned Business Entities
A cooperative that holds ownership interests of another business entity may, by direction of the cooperative’s board, elect or appoint a person to represent the cooperative at a meeting of the business entity. The representative has authority to represent the cooperative and may cast the cooperative’s vote at the business entity’s meeting.
§ 43-38-516. Action Without a Meeting on Written Consent
Unless the articles provide otherwise, any action required or permitted to be taken at a meeting of the members may be taken without a meeting by action on written consent as provided in § 43-38-517 or on recommendation of the board of directors as provided in § 43-38-518. Any action taken pursuant to § 43-38-517 […]
§ 43-38-517. Procedure for Taking Action Without a Meeting on Written Consent
To take action on written consent: A written waiver of acting at a meeting must be signed by all members, or a smaller number or percentage interest as provided for in the articles or bylaws, but not less than a majority in voting power; and A written consent must be signed by members who own […]
§ 43-38-506. When Assignment of Financial and Governance Rights Effective
Any permissible assignment of financial rights under § 43-38-503 and of governance rights under § 43-38-504 will be effective as to and binding upon the cooperative only when the assignee’s name, address, social security or taxpayer identification number and the nature and extent of the assignment are reflected in the required records of the cooperative.
§ 43-38-507. Judgment Creditors of Members
On application to a court of competent jurisdiction by any judgment creditor of a member, the court may charge the member’s financial rights with payment of the unsatisfied amount of the judgment with interest. To the extent so charged, the judgment creditor has only the rights of an assignee of the member’s financial rights under […]
§ 43-38-508. Death, Incompetence, or Bankruptcy of Member — Member That Is Dissolved, Terminated, or in Receivership
If a member who is an individual dies, a court of competent jurisdiction adjudges the member to be incompetent to manage the member’s person or property, or the court places the individual in bankruptcy, the member’s executor, administrator, guardian, conservator, trustee, or other legal representative, except as otherwise provided in the articles or bylaws, may […]